Jaguar Mining Inc. announced its consolidated annual guidance for 2017 and to provide an update on its Growth Exploration Pipeline Initiative, announced on October 27, 2016. All amounts are in US dollars, unless otherwise stated. Commenced underground development of exploration drives in order to launch the planned deep drilling programs from the hanging wall at both Pilar and Turmalina to test the down-plunge extension of current inferred resources. Initiated exploration drilling at the Pacheca and Cubas targets located in and around Pilar.

The company's 2017 gold production guidance has increased approximately 10% year-over-year and is a significant step towards the company's five-year strategic plan of becoming a 200,000 ounce per year producer, focused on organic growth within the prolific mining district of the Iron Quadrangle, located in Minas Gerais, Brazil. Jaguar will be leveraging off of the successes achieved with its Operational Excellence Program at the Turmalina Gold Mine ("Turmalina") in 2016 and plans to expand the program into Pilar Gold Mine ("Pilar") during 2017. Gold production of 100,000 - 110,000 ounces, up approximately 10% compared to 2016 guidance. Growth exploration investment (core operating assets) of $7.5 million - $8.0 million.